Insider Selling: Horace Mann Educators Co. (NYSE:HMN) CEO Sells 5,000 Shares of Stock

Horace Mann Educators Co. (NYSE:HMN) CEO Marita Zuraitis sold 5,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $43.24, for a total value of $216,200.00. Following the sale, the chief executive officer now directly owns 310,451 shares of the company’s stock, valued at approximately $13,423,901.24. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marita Zuraitis also recently made the following trade(s):

• On Thursday, May 1st, Marita Zuraitis sold 5,000 shares of Horace Mann Educators stock. The stock was sold at an average price of $41.40, for a total value of $207,000.00.
• On Tuesday, April 1st, Marita Zuraitis sold 5,000 shares of Horace Mann Educators stock. The stock was sold at an average price of $43.09, for a total value of $215,450.00.

Horace Mann Educators Stock Up 1.9%

NYSE:HMN opened at $43.97 on Friday. The business’s fifty day moving average price is $41.82 and its 200 day moving average price is $40.86. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 17.73 and a beta of 0.28. The company has a current ratio of 0.10, a quick ratio of 0.09 and a debt-to-equity ratio of 0.42. Horace Mann Educators Co. has a 1-year low of $31.81 and a 1-year high of $44.44.

Horace Mann Educators (NYSE:HMN) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.19. The company had revenue of $416.40 million for the quarter, compared to the consensus estimate of $421.40 million. Horace Mann Educators had a return on equity of 10.58% and a net margin of 6.44%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. On average, sell-side analysts forecast that Horace Mann Educators Co. will post 3.87 earnings per share for the current fiscal year.

Horace Mann Educators announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Horace Mann Educators Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.40 annualized dividend and a yield of 3.18%. Horace Mann Educators’s dividend payout ratio is presently 50.72%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HMN. Wall Street Zen raised Horace Mann Educators from a “buy” rating to a “strong-buy” rating in a research note on Friday. JMP Securities reiterated a “market perform” rating on shares of Horace Mann Educators in a report on Friday, February 7th. Piper Sandler lifted their target price on shares of Horace Mann Educators from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on shares of Horace Mann Educators from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Tuesday, February 11th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of Horace Mann Educators in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Hedge Funds Weigh In On Horace Mann Educators

Several institutional investors and hedge funds have recently modified their holdings of HMN. Hodges Capital Management Inc. acquired a new position in shares of Horace Mann Educators in the first quarter worth $3,069,000. Intech Investment Management LLC grew its stake in Horace Mann Educators by 8.4% in the first quarter. Intech Investment Management LLC now owns 32,340 shares of the insurance provider’s stock valued at $1,382,000 after purchasing an additional 2,507 shares in the last quarter. Jane Street Group LLC grew its stake in Horace Mann Educators by 313.8% in the first quarter. Jane Street Group LLC now owns 91,640 shares of the insurance provider’s stock valued at $3,916,000 after purchasing an additional 69,492 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Horace Mann Educators by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,788 shares of the insurance provider’s stock worth $5,930,000 after purchasing an additional 7,542 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Horace Mann Educators by 2.1% during the 1st quarter. Empowered Funds LLC now owns 174,926 shares of the insurance provider’s stock worth $7,475,000 after purchasing an additional 3,548 shares in the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

About Horace Mann Educators

Horace Mann Educators Corporation, together with its subsidiaries, operates as an insurance holding company in the United States. The company operates through Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments. Its Property & Casualty segment offers insurance products, including private passenger auto insurance, residential home insurance, and personal umbrella insurance; and provides auto coverages including liability and collision, and property coverage for homeowners and renters.